In the parallel market, the Naira increased from N1,476 per dollar last weekend to N1,470 per dollar yesterday.  

However, the naira dropped to N1,450 per dollar in the Nigerian Foreign Exchange Market (NFEM).  

The exchange rate for the naira increased to N1,450 per dollar from N1,446.9 per dollar last weekend, according to data released by the Central Bank of Nigeria, or CBN, suggesting a N3.1 depreciation.  

As a result, the difference between the parallel market and NFEM rate fell to N20 per dollar from N29.1 per dollar last week Friday.

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